Crypto platform Debiex ordered to pay $2.5 million in US CFTC 'pig killing case'

According to Cointelegraph, cryptocurrency platform Debiex has been ordered to pay approximately $2.5 million for failing to respond to a lawsuit filed by the US Commodity Futures Trading Commission (CFTC) accusing it of being a "pig killing" fraud group. On March 13th, Arizona Federal Court Judge Douglas Rayes approved the CFTC's earlier motion for summary judgment and ordered Debiex to refund approximately $2.26 million stolen from customers, while paying nearly $221500 in civil fines. The judge stated that there is no evidence to suggest that Debiex's failure to respond to the CFTC was due to "forgivable negligence". The CFTC filed a lawsuit against Debiex in January 2024, alleging that its employees committed a so-called "pig killing scam" by establishing romantic relationships with customers through social media to gain trust and persuade them to invest on the platform. The scam lured five victims to deposit approximately $2.3 million into Debiex, and "the Debiex platform subsequently stole these funds".